Dubai, United Arab Emirates, Nov. 14, 2018: Last mile delivery platform ‘FarEye’ has announced the acquisition of Internet of Things (IoT) platform ‘Dipper’ for an undisclosed sum. Dipper, founded by Suryansh Jalan and Ayush Syal in September 2015, is an IoT platform that provides visibility and predictability in freight movement.
This move reinforces FarEye’s growth plans to solve challenges for long-haul and multi-modal logistics. The company was founded by Kushal Nahata, Gautam Kumar & Gaurav Srivastava in 2015, and serves 100+ customers across 5 continents.
A press release by FarEye said Dipper’s predictive technology platform provides logistics stakeholders end to end real-time visibility of their chain while enabling them with preventive management tools and easy decision making aided with smart KPIs and analysis. Their propriety ML engine estimates real-time delay in freight movement. This helps shippers with better planning for arrival of goods, reliable transportation reducing inventory and benchmarking SLAs to reduce transportation cost. The technology allows on-time deliveries, bottleneck mitigation, theft and pilferage reduction, digitised document digitisation with electronic proof of deliveries and dispatch orders, customer satisfaction and optimised operations.
Kushal Nahata, Co-founder & CEO of FarEye, said in a statement, “Shippers are losing a lot of time, money and inventory due to unpredicted freight movement. Transport infrastructure investment is projected to increase at an average annual rate of about 5% worldwide over the period of 2014 to 2025. The Dipper team understood the problem really well and this understanding coupled with a very passionate team & a strong product supplemented FarEye’s existing strength in supply chain industry technology. We are now headed towards digitalizing Middle East’s transportation industry and improve it to ensure on-time deliveries with reduced cost of goods movement. We are now a strong team of 200, consulting more than 100 customers – targeting the trillion dollar logistics & supply chain industry, globally.”